Supermajor Exxon Mobil Corp. seized the opportunity to raise inexpensive cash with an $8.5 billion debt raise two days after the US Federal Reserve’s March 15 emergency rate cut to 0-0.25%. As a result of the rate cut, the US prime rate was set to 3.25%. The emergency measure to help protect the economy during the coronavirus pandemic has only been used once before—during the 2008 financial crisis. One of the five tranches Exxon......
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